NCR Online Journal

Flue Gas Desulfurization Systems Market worth $23.1 billion by 2025, at a CAGR of 5.5%

 Breaking News
  • No posts were found

Flue Gas Desulfurization Systems Market worth $23.1 billion by 2025, at a CAGR of 5.5%

March 23
20:53 2021
Flue Gas Desulfurization Systems Market worth $23.1 billion by 2025, at a CAGR of 5.5%

Browse 100 market data Tables and 50 Figures spread through 207 Pages and in-depth TOC on “Flue Gas Desulfurization Systems Market”
Flue Gas Desulfurization Systems Market by Type (Wet, Dry & Semi-Dry), End-Use Industry (Power Generation, Chemical, Iron & Steel, Cement Manufacturing), Installation (Greenfield and Brownfield), and Region

The FGD systems market is projected to grow from USD 17.7 billion in 2020 to USD 23.1 billion by 2025, at a CAGR of 5.5% from 2020 to 2025. The FGD systems market has been witnessing consistent growth owing to the increasing concerns regarding environmental pollution, growing prevalence of airborne diseases, and enforcement of environmental laws & regulations. The rise in demand for FGD systems from the power generation, chemical, iron & steel, and cement & manufacturing industries is expected to drive the market globally. Stringent environmental regulations focused on the control of excessive industrial sulfur dioxide emissions are further expected to drive the growth of the market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=862

Based on type, the wet FGD systems segment is projected to lead the market 

Based on type, the wet FGD systems segment is estimated to lead the market in 2020 as these are the most commonly used in industrial plants owing to their high removal efficiency (> 95%). As coal-fired power plants are the chief contributor of flue gases, most countries have strict emission standards for power generation units, mandating them to install FGD systems with high removal efficiency. Thus, wet FGD systems remain in high demand to meet the environmental standards across the globe.

Among end-use industry, the power generation segment is estimated to lead the FGD system market

Based on end-use industry, the power generation segment is expected to lead the FGD system market, as most developing and developed countries are still dependent on coal for electricity generation. China is the market leader in terms of wet FGD system installations in power plants. It has the maximum number of proposed power plants in the world. This, in turn, has increased SOX emission in China, consequently driving the demand for wet FGD systems that have a high removal efficiency to meet the emission standards set by the government.

The FGD systems market in Asia Pacific is projected to grow at the highest CAGR from 2020 to 2025

The Asia Pacific region is a highly potential market for FGD systems and is projected to be the fastest-growing during the forecast period. The important drivers for the rising demand for FGD systems in Asia Pacific are the rapidly rising energy demand, industrialization, and awareness about controlling air pollution. The chemical sector is continuously growing in the Asia Pacific region and is expected to fuel the growth of the FGD systems market during the forecast period. The growth of the market in the Asia Pacific region can also be attributed to the growing cement manufacturing and metal smelting industries.

Mitsubishi Heavy Industries Ltd. (Japan), General Electric Company (US), Doosan Lentjes GmbH (Germany), Babcock & Wilcox Enterprises Inc. (US), Rafako S.A. (Poland), FLSmidth & Co. (Denmark), Hamon Group (Belgium), Marsulex Environmental Technologies (US), Thermax Ltd. (India), and Andritz AG (Austria) have adopted agreements, expansions, innovative technology research, and new product development as their key growth strategies. These players have adopted strategies such as expansions, agreements, and new product development to enhance their position in the market.

Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=862

 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/flue-gas-desulfurization-systems-market-862.html

Related Articles